Naira X Tinubu
IMPORTANT NOTE: Please note that the exchange rate changes hourly.… it depends on the volume of dollars available and the Demands. It means that…you can buy or sell 1 dollar at ₦875 and the price can change (high or low) within hours.
The Nigeria parallel market (black market dollar exchange rate today) to the Nigerian Naira is as follows: For the Lagos market (black market).
LAGOS PARALLEL MARKET RATES TODAY: dollar to naira exchange rate today black market.
August 2 dollar to naira black market exchange rate: $1 dollar to naira = ₦875
| Dollar to Naira (USD to NGN) | Black Market Exchange Rate Today |
| Buying Rate | 870 |
| Selling Rate | 875 |
The local currency opened at N875.00 per $1 at the parallel market otherwise known as the black market today Wednesday, 2 August 2023, in Lagos Nigeria, after it closed at N870.00 per $1 on Tuesday, 1 August 2023.
Even though the dollar to naira opened in the parallel market at ₦875 per $1 today, Newsonline reports that the Central Bank of Nigeria (CBN) does not recognise the parallel market, otherwise known as the black market. The apex bank has therefore directed anyone who requires forex to approach their bank, insisting that the I&E window is the only known exchange.
Newsone Nigeria reports that in the black market, the players buy a dollar for N875 and sell for N870 on Wednesday, 2 August 2023, after they purchased N860 and sold for N870 on Tuesday, 1 August 2023.
Meanwhile, Newsone Nigeria reports that the USD started this week at ₦865 in Parallel Market also known as Black Market on Monday, July 31, 2023, in Lagos Nigeria, after it opened at ₦860 last week Monday, July 24, 2022.
Disclaimer: NEWSONLINE NIGERIA does not set or determine forex rates. The official NAFEX rates are obtained from the website of the FMDQOTC. Parallel market rates (black market rates) are obtained from various sources including online media outlets. The rates you buy or sell forex may be different from what is captured in this article
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